The global market for testing, inspection, and certification (TIC) could face a high level of fragmentation in its vendor landscape owing to the presence of a large number of players sustaining amid intense competition but promising growth avenues, observes Transparency Market Research in a recent report. So as to strengthen their positions and earn lucrative growth opportunities, companies are targeting strategic collaborations, mergers, acquisitions, and expansion across lucrative emerging economies.

In terms of services, the testing and inspection segment held approximately 95% of the global market in 2016. This is primarily due to the increased focus on monitoring and maintaining hygienic, healthy, and conducive production environments along the supply chain in order to safeguard the safety and quality of products. While the scenario is expected to remain largely unchanged over the near future as well, the certification segment could also a steady rise in demand over the report’s forecast period.

Geographically, the market in Europe is presently the chief contributor of revenue to the global market. The regional market accounted for over 33% of the overall market in 2016, chiefly owing to the stringent regulations concerning safety of products from industries such as food and beverages, transportation and logistics, chemical, and water and wastewater. The region is also expected to maintain its lead over the report’s forecast period.

Need to Adhere to Stringent Safety Regulations to Increase Demand for TIC Services

Testing, inspection and certification services are becoming increasingly important for companies spanning a vast number of industries as these services ensure the maintenance of health, safety, and quality requirements of the concerned products. Increasing focus of the enterprise sector on safety legislations and standards, diversified requirement of products, and standard regulations are some of the factors responsible for the growth of the market.

In the European Union, for instance, the General Safety Regulation (EC) No 661/2009 in 2014 mandated advanced safety features in every new van, car, bus and truck sold in the European Union. The new features included ISOFIX child seat anchorages, tire pressure monitoring systems and driver seatbelt reminders. Moreover new buses and trucks must also be armed with lane departure warning systems as well as advanced emergency braking systems. Food safety particularly earns high prominence in countries across North America, calling for advanced technology for testing, inspection and certification services. So as to adhere to all these regulations, the demand for TIC services has ramped up in the recent years and continues to be fueled.

Increased Trend of Outsourcing TIC Services to Benefit Vendors

Increased outsourcing of TIC services is expected to emerge as a key opportunities for companies in the global testing, inspection and certification market over the forecast period. The testing, inspection and certification are unceasingly adopted by the emerging economies such as Asia Pacific and South America, which is further anticipated to drive the growth of testing, inspection and certification over the forecast period.

In addition, the report provides analysis of the Testing, Inspection and Certification Market with respect to the following geographic segments:

North America

The U.S.

Canada

Rest of North America

Europe

Spain

Italy

Portugal

Poland

The U.K.

Rest of Europe

Asia Pacific (APAC)

India

China

Japan

Rest of APAC

Middle East and Africa (MEA)

Algeria

Saudi Arabia

Morocco

Egypt

Rest of MEA

South America

Brazil

Chile

Ecuador

Peru

Colombia

Rest of Latin America

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.